Technology and Growth for the Third World
In the theoretical research on growth, technological progress is conceived either as a free good (manna from heaven), as a by-product (externality) of other economic activities, or because of R&D international activities in private firms. All three perspectives have some merit. Basic research in universities and public R&D institutions provides substantial inputs to the innovation process. Learning by doing, using, interacting, etc., are important for technical progress. Increasingly, it has come to be accepted that models that do not include the third source of technical progress (innovation as contributed by international activities in private firms) overlook one of the most important sources of technical progress in capitalist economies. To some extent, there appears to be a convergence in assumptions between formal and appreciative theorizing in this area. While formal theory still adopts the traditional neoclassical perspective of firms as profit maximizers, endowed with perfect information, appreciative theorizing increasingly portrays as organizations characterized by different capabilities and strategies and operating under considerable uncertainty with respect to future technological trends. In this book, the impact of technology on growth, technology and differences in growth rates, historical approach to future economic growth, technology and competitiveness, information technology and future economic growth, historical approach to technological change, technology and economic theory, technology and zero growth and a few other aspects are discussed.